Bankrupt Billionaire Sam Wyly, Family Settle SEC Fraud SuitBy
Agreement to pay $198 million follows 6-year court fight
Ruling is a win for IRS and SEC in case over offshore fraud
Former billionaire Samuel Wyly’s six-year battle with the U.S. Securities and Exchange Commission neared conclusion after he agreed to pay $198 million to settle a fraud suit the agency won against him and his late brother Charles two years ago.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.